RICHWOOD, TEXAS — Bellomy & Co., a self-storage brokerage firm with offices in Houston and Austin, has arranged the sale of Richwood Self Storage, a 592-unit facility situated on 5.4 acres in Richwood, located about 50 miles south of downtown Houston. The facility spans 74,825 net rentable square feet and offers climate- and non-climate-controlled space. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the New York City-based seller in the transaction. The buyer was Merit Hill Capital, a Brooklyn-based self-storage investment and development firm.
HOLBROOK, MASS. — The Stubblebine Co., an industrial brokerage firm that is active throughout New England, has arranged the sale of a 142,000-square-foot facility in Holbrook, located south of Boston. The sales price was approximately $5 million. The multi-tenant property features 19- to 27-foot clear heights and 25 loading docks. David Stubblebine and James Stubblebine represented the buyer and seller, both of which requested anonymity, in the transaction.
PLANO, ILL. — Marcus & Millichap has brokered the sale of Store More, a 395-unit self-storage facility in Plano, about 50 miles west of Chicago. The sales price was not disclosed. The 49,500-square-foot property is located at 3980 Turner Ave., along Route 34. The nine-building facility features 17 climate-controlled units and 280 drive-up units as well as 97 boat and recreational vehicle (RV) parking spaces. Jeffrey Herrmann and Sean Delaney of Marcus & Millichap marketed the property on behalf of the seller. The team also represented the buyer.
CARY, ILL. — Premier Commercial Realty has arranged the $4.3 million sale of an industrial and retail portfolio in Cary. The properties include a 32,000-square-foot, multi-tenant industrial building at 615 Industrial Drive; a 36,000-square-foot, multi-tenant industrial building at 700 Industrial Drive; and a 15,000-square-foot retail property at 395 Cary Algonquin Road. All of the properties were fully leased at the time of sale. Three individual investors purchased the assets. Bruce Kaplan and Kevin Kaplan of Premier represented the sellers on all three transactions.
ALTAMONTE SPRINGS, FLA. — CBRE has arranged the $14.8 million sale of Altamonte Commerce Center, an eight-building industrial property in Altamonte Springs. The property is located at 217-311 Altamonte Commerce Blvd. and 620-658 Douglas Ave., 10 miles north of downtown Orlando. SunCap Opportunity Fund acquired the 185,000-square-foot property from EastGroup Properties. Altamonte Commerce Center is situated near Interstate 4 between state roads 436 and 434. David Murphy and Monica Wonus of CBRE represented the seller in the transaction.
DETROIT — Tiberina Group, an Italian automotive supplier, has purchased 10 acres of land at the former American Axle manufacturing site in Detroit with plans to build a manufacturing facility. The sellers, Industrial Commercial Properties LLC and Industrial Realty Group LLC, originally acquired the property in 2014 from American Axle, which leased back the buildings on a long-term basis. W. Emery Matthews of Real Estate Interests LLC represented Tiberina in the sale. The size of the plant or production plans have not been disclosed.
GRAND PRAIRIE, TEXAS — JLL Income Property Trust has acquired a 145,000-square-foot distribution center located five miles south of Dallas-Fort Worth (DFW) International Airport in Grand Prairie. At the time of sale, the Class A property was fully leased to Fruit of the Earth, a producer of skin care products. The company’s lease runs through January 2027. This acquisition brings the trust’s total industrial allocation to about $670 million across 6.3 million square feet of space. The seller was not disclosed.
CHULA VISTA AND SAN DIMAS, CALIF. — San Diego-based Stos Partners has completed the sales of two properties, totaling 221,448 square feet, for $33.5 million. In the first deal, Stos Partners sold two industrial buildings, located at 1670 and 1690 Brandywine in Chula Vista, to a large institution for $24.4 million. The 170,805-square-foot asset is divided into six industrial units ranging in size from 25,000 square feet to 55,000 square feet and is leased to a mix of national credit, regional credit and local companies. Bryce Aberg, Jeff Cole, Jeff Chiate and Brant Aberg of Cushman & Wakefield, along with Michael Mossmer of Voit Real Estate Services, represented the seller in the disposition. In the second transaction, Stos Partners sold a two-story, 50,634-square-foot office building, located at 650 W. Cienega in San Dimas. A trade union acquired the property for approximately $9.1 million. The buyer plans to use the facility as an owner-user. Taylor Ing at Newmark Knight Frank represented the seller, while Brandon Burns of Cushman & Wakefield represented the buyer in the deal.
BALTIMORE — Duke Realty has signed Ace Logistics to two industrial leases totaling 351,000 square feet in Baltimore. The first lease, a renewal at Chesapeake Commerce Center 5900, spans 169,000 square feet. The second lease totals 182,000 square feet and is located at Chesapeake Commerce Center 6000, which is a build-to-suit building still under construction. The industrial campus comprises 177 acres and is situated off Interstate 95, one mile north of the Port of Baltimore. A construction timeline for the build-to-suit building was not disclosed, but Chesapeake Commerce Center will be fully occupied upon completion, according to Duke Realty. Peter Hajimihalis and Ben Meisels of JLL represented the tenant in the lease transactions. Justin Mohler of CBRE and Battista Orcino of Duke Realty represented the landlord.
AURORA, COLO. — CBRE has brokered the sale of four buildings at Airways Business Center, a Class A warehouse distribution center in Aurora. EastGroup Properties acquired the asset from Principal Global Investors for an undisclosed price. Built in 2007 and 2008, the four buildings — 2, 4, 5 and 6 — offer a total of 382,137 square feet of industrial space. At the time of sale, a mix of 11 tenants fully occupied the assets. Doug Viseur, Todd Witty, Tyler Carner, Jeremy Ballenger, Jessica Ostermick and Jim Bolt of CBRE’s Denver office represented the seller in the deal.